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Adjusted EPS of $2.06 topped estimates of $1.86, while the experiences segment posted 10% revenue growth to nearly $10 billion
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Disney $DIS reported fiscal third-quarter results on Wednesday that surpassed Wall Street expectations for earnings, driven by strength in its theme parks and streaming businesses. On an adjusted basis, Disney earned $2.06 per share, compared with $1.61 in the same quarter a year ago. Wall Street had expected adjusted EPS of $1.86, according to CNBC.
Total revenue rose 7% year over year to $25.25 billion for the quarter ended June 27. That fell slightly short of analyst expectations of $25.4 billion, according to CNBC. Under GAAP accounting, Disney recorded net income of $2.64 billion, or $1.51 per share; a year earlier the figure stood at $5.26 billion, or $2.92 per share. The decline reflects one-time tax benefits included in the prior-year quarter, the company said.
